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Penn Company Needs an Estimate of Its Ending Inventory Balance

Question 27

Multiple Choice

Penn Company needs an estimate of its ending inventory balance. The following information is available: Penn Company needs an estimate of its ending inventory balance. The following information is available: Given this information, when using the gross margin estimation method, ending inventory is approximately A) $1,000 B) $9,000 C) $19,000 D) $11,650 Given this information, when using the gross margin estimation method, ending inventory is approximately


A) $1,000
B) $9,000
C) $19,000
D) $11,650

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